The investment raised will help us achieve our growth plans.
Today, 16 May 2018, we have launched our first ever Deferred Shares offer. At a competitive 4.75% per annum fixed rate, the investment raised will help us achieve our growth plans as we aim to deliver more social value than ever before. Specifically, increased capital will enable us to increase the number of loans, expand our support to social enterprises, support local economy projects and work with partners to provide services to those who are considered to be vulnerable. In short, we will scale up our social and environmental impact in doing good with money.
In the last year, we have welcomed more than 2,150 new members, made more than 2,300 loans for less than £1,000 (issuing more than £3.1m of new loans in total) and increased total savings by nearly £675,000. We’ve also become a Living Wage Employer, and begun work on an innovative project to help support vulnerable refugees, as well as being granted a 5 Star mark by the Fairbanking Foundation for our affordable loans.
Our 4.75% Deferred Shares are only available to members of the credit union, but qualifying new supporters can join easily in order to invest.
The Deferred Shares will help support our core capital, and form part of a larger investment raise. We are working with a number of social impact investors to secure funding for investment in growth initiatives, and may also launch a new investment bond type opportunity later in the year.
The first phase of our Deferred Shares Offer is now closed, but members can still invest, contact us to find out more.
Capital is at risk. Deferred Shares not protected by the Financial Services Compensation Scheme.